Metrowest Development
By Catherine Reagor | The Republic | azcentral.com
Light rail has spurred the development of several housing, office and retail projects in Phoenix, Tempe and Mesa. But more than a dozen of the new developments might not be open or under construction without the help of a $20 million non-profit fund created to support housing and redevelopment near the tracks.
The Sustainable Communities Collaborative is a partnership of more than 35 entities powered by money from the Local Initiatives Support Corp. and the Raza Development Fund. Leveraging that money has helped finance about $150 million in projects along metro Phoenix’s light-rail corridor.
Since 2011, the collaborative has spent $11 million of its funding on 15 projects, including redevelopment of the old Beef Eaters restaurant on Camelback Road in Phoenix, affordable housing with a day-care center above a thrift store along Tempe’s Apache Boulevard and a senior residential project across from the arts center in downtown Mesa.
